Press release
Alcohol Ingredients Market Size, Growth Analysis, Demand, Industry Trends, Segment And Forecast 2024-2033 | AngelYeast Co. Ltd., Ashland Global Holdings Inc., Bio Springer SA, Cargill Incorporated, Chr. Hansen Holding A/S
Alcohol Ingredients Market Report
The Business Research Company presents an extensive market research report on the Alcohol Ingredients Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The alcohol ingredients market size has grown strongly in recent years. It will grow from $2.04 billion in 2023 to $2.24 billion in 2024 at a compound annual growth rate (CAGR) of 10.0%. The growth in the historic period can be attributed to consumer demand for variety, globalization and trade, evolving consumer preferences, regulatory framework, shift in drinking culture.
The alcohol ingredients market size is expected to see strong growth in the next few years. It will grow to $3.26 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%. The growth in the forecast period can be attributed to functional and nutraceutical ingredients, clean-label and natural ingredients, rising beverage tourism, global economic growth, innovative cocktail culture. Major trends in the forecast period include climate-adaptive ingredients, customized flavor blends, heritage and regional ingredients, transparency in sourcing, low-alcohol & non-alcoholic options.
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Key Market Players:
Major companies operating in the alcohol ingredients market report are AngelYeast Co. Ltd., Ashland Global Holdings Inc., Bio Springer SA, Cargill Incorporated, Chr. Hansen Holding A/S, Diageo Plc., Döhler GmbH, Royal DSM N.V., MGP Ingredients Inc., Sensient Technologies Corporation, Synergy Flavours, The Archer-Daniels-Midland Company, Treatt Plc., Crystal Pharma, DDW The Color House, Koninklijke DSM N.V., Kerry Group PLC, The Color House, D.D. Williamson & Co. Inc., The Edlong Corporation, International Flavors & Fragrances Inc., Firmenich SA, Givaudan SA, Takasago International Corporation, Mane SA, Robertet SA, Molson Coors Beverage Company, BASF SE, Ajinomoto Co. Inc., Novozymes A/S
Market Drivers:
The rising consumption of alcohol is significantly contributing to the growth of the alcohol ingredients market going forward. The consumption of alcohol is increasing mainly due to rise in stress, increased availability of alcohol, boredom, and alcohol's view as socially acceptable. Alcoholic beverage production uses alcoholic ingredients like yeast, enzymes, and colorants. The sort of alcohol found in alcoholic beverages that are for consumption is a substance known as ethanol. As the alcohol consumption increases, it will also create demand for ingredients used in alcohol beverages. For instance, according to American Addiction Centers, a US-based healthcare facilities and services company providing treatment for substance use disorders and mental health disorders, in 2022, Belarus, a tiny landlocked nation in Europe, had the highest average per-capita consumption of pure alcohol. Its residents used 14.4 liters annually on average, more than 1.5 times what Americans did. Therefore, the rising consumption of alcohol is driving the demand for the alcohol ingredient market.
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https://www.thebusinessresearchcompany.com/report/alcohol-ingredients-global-market-report
The alcohol ingredients market covered in this report is segmented -
1) By Ingredient Type: Colorants, Yeast, Flavors and Salt, Enzymes, Other Ingredient Types
2) By Application: Whiskey, Beer, Wine, Brandy, Spirits, Other Applications
3) By Distribution Channel: On-Trade Channels, Off-Trade Channels
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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